YEREVAN, April 22, /ARKA/. Ameriabank said its outstanding credit portfolio grew by 17% in the first quarter of 2011 to 103 billion Drams. According to a press release, 85% of the portfolio or 88 billion Drams were loans extended to legal entities. The bank said that 93% of the growth in the first quarter was secured by corporate lending and their share rose by 18% in the first three months of the year.
The bank said its classified loans made only 0.64% of the overall portfolio. The bank’s assets were said to have grown in Jan.-March by 5% to 161 billion Drams. According to the press release, the credit portfolio (financial leasing and factoring included) rose 111 billion Drams by April 20.
Ameriabank is an investment corporate bank offering investment, corporate and limited retail banking services. The bank is owned by Troika Dialog, one of the largest Russian private investment companies.($1 – 375.82 Drams). -0-
